Posted by Leonard Steinberg on April 25th, 2014 The number of mortgages issued has dropped dramatically compared to a year ago fueling concerns that rising interest rates could have a negative impact on the housing market in general…..the bulk of the drop is attributed to the drop-off in re-financing. $235 billion in mortgage loans were… [Read More]
THE TALLEST TOWER IN THE WORLD
Posted by Leonard Steinberg on April 20th, 2014 And you thought the Freedom Tower or those buildings on the 57th Street corridor of New York were tall? Hah! Work to build the world’s first 1km-high building…..yes, 3,280ft tall, or almost TRIPLE the height of 432 Park Avenue….. the Kingdom Tower in Saudi Arabia, is set… [Read More]
FUZZY MATHEMATICS AND REAL ESTATE
Posted by Leonard Steinberg on April 17th, 2014 In this morning’s POST an article addresses the concerns of activist Reverend Dennis Dillon that Mayor De Blasio’s administration is not as diverse as the City and doesn’t reflect its composition: African-Americans account for about 23% of New York City’s population, and make up 26% of the… [Read More]
IS SELLER PRICING AMBITION OUT-PACING BUYER TOLERANCE?
Posted be Leonard Steinberg on April 16th, 2014 The Wall Street Journal reports this morning that the expected SPRING RUSH has not happened quite as planned throughout the US Housing market, although the Manhattan market has been rather strong, and one reason may be that asking prices have been escalating to the point where they… [Read More]
MAYOR DE BLASIO’S NEXT 100 DAYS
Posted by Leonard Steinberg on April 13th, 2014 Many have asked my opinion of Mayor De Blasio’s first 100 days in office: I was lambasted by many for vocalizing my support of him……surely someone in real estate could not support this obviously liberal mayor for New York City? Well, I did. And I did so with good… [Read More]
THE PAST AND THE FUTURE COLLIDE IN NEW YORK
Posted by Leonard Steinberg on April 11th, 2014 The other day I witnessed the past and the future within a few blocks of one another in New York: The first visit was to the US Post office where I had to buy one postage stamp (I know, ridiculous!). Entering the office felt like a step… [Read More]
BILLIONAIRE BIDDING WAR: $102 MILLION LOS ANGELES HOME SALE.
Posted on April 1st, 2014 Fleur de Lys, a 50,000sf estate in the Holmby Hills area of Los Angeles has sold for $102 million, making it the most expensive home ever sold in Los Angeles County, yet at $ 2,040/sf its a relative bargain compared to most luxury New York real estate…..especially considering the antique… [Read More]
61,000 NEW NEW YORKERS: WHAT ABOUT SEMI-AFFORDABLE HOUSING?
Posted by Leonard Steinberg on March 26th, 2014 Many keep asking: where do all these New York buyers and renters come from? While much of it can be attributed to the creation of new households and ‘natural’ selling trends (death, birth, marriage, divorce, desire for change, re-location, etc), equally important are the numbers of people… [Read More]
AN UNFLATTERING BOOK ABOUT NEW YORK REAL ESTATE MOGULS?
Posted by Leonard Steinberg on March 22nd, 2014 I have heard Vicky Ward is writing a book about real estate moguls…..supposedly it’s an investigation exposing the shady stories of various real estate moguls who’d prefer people to think they’d made their money honestly. The book is scheduled for publication by John F. Wiley & Sons later in… [Read More]
IS LUXURY USA BILINGUAL COMMUNICATION CHINESE?
Posted by Leonard Steinberg on March 21st, 2014 SOTHEBY’S International Realty distributed a rather impressive large LUXURY SHOWCASE booklet in the Wall Street Journal this morning: while the content was good with many lavish suburban properties advertised for sale, and some statistics about the luxury market and consumer, what was most telling was how bilingual… [Read More]